Investing in gender equality is a proven driver of performance and a competitive advantage.
Appointed first provisional liquidators in Jersey
IFRS 19 ‘Subsidiaries without Public Accountability: Disclosures’ (the Standard) creates a reduced set of disclosures that certain in-scope entities can elect to apply instead of the disclosure requirements set out in other IFRS Accounting Standards.
In January 2016, the International Accounting Standards Board (IASB) issued IFRS 16 ‘Leasing’, which represents the first major overhaul in lease accounting for over 30 years. The Standard brings fundamental changes to lease accounting that replace previous accounting that is considered no longer fit for purpose. These changes become effective from 1 January 2019.
Grant Thornton named one of the 50 'World’s Most Attractive Global Employers' for fourth consecutive year! Grant Thornton is one of the 50 ‘World’s most attractive global employers’ for a fourth consecutive year, according to business students who took part in the Universum Talent Survey.
As you will know from earlier news, Guernsey has been negotiating this year to formalise just what the EU’s requirements for ‘substance’ need to include. In addition to the overarching draft law issued last month which the States will debate and we expect to approve on 28th November, draft Regulations setting out much of the detail have also now just been published.
We begin this final edition for 2018 with an article on the recently issued IASB publication ‘Definition of Material – Amendments to IAS 1 and IAS 8’, before turning to some topical issues. These include regulators’ views on IFRS 9 and IFRS 15, reverse factoring, and issues related to the discontinuance of LIBOR and other inter-bank offer rates.
Each year the requirements of International Financial Reporting Standards (IFRS) change. New Standards and Amendments become effective and these determine the presentation of primary financial statements and accompanying disclosures. As a result companies face the challenge of updating their financial statements every year.
Yesterday's first Monday UK Budget for over 56 years was neither manic nor blue. The Chancellor tried to deliver an upbeat giveaway budget with a promise that the end to austerity was in sight and that this was a Budget "for hard working families". This theme continued throughout his speech.
We all know the UK government announced its intention to extend UK CGT to commercial property and all indirect property interests, and earlier this month we had the proposed details to review.
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.
Currently, IFRS does not provide specific guidance on accounting for crypto assets. This IFRS Viewpoint seeks to explore the accounting issues that arise for miners and validators in mining and maintaining the blockchain in accordance with existing IFRS. It follows our earlier IFRS Viewpoint No.9 ‘Accounting for cryptocurrencies – the basics’.
While Government’s key announcements in the Finance Bill and other recent changes aim to provide certainty for the real estate sector, uncertainty still remains.
We continue to hear sorry tales of companies’ systems being hacked: as I write this, the latest big story (https://www.theregister.co.uk/2018/06/13/dixons_carphone_breach/) is Dixons Carphone experiencing a hack involving 5.9 million payment cards and over a million personal data records.
The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. Each year, new Standards and amendments are published by the International Accounting Standards Board (IASB) with the potential to significantly impact the presentation of a complete set of financial statements.
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.
Potential accounting consequences of the US tax reform for IFRS preparers